RREEF Real Estate, the real estate investment management arm of Deutsche Bank's asset management division, said it has acquired a business park in the UK town of Reading for £140.15 mln (EUR 162 mln) on behalf of a leading Asian pension fund. According to well-informed sources, the buyer is Malaysia’s Employees Provident Fund.
RREEF Real Estate, the real estate investment management arm of Deutsche Bank's asset management division, said it has acquired a business park in the UK town of Reading for £140.15 mln (EUR 162 mln) on behalf of a leading Asian pension fund. According to well-informed sources, the buyer is Malaysia’s Employees Provident Fund.
Reading International Business Park is a Grade A office developed in 2001 which serves as the European headquarters of US telecommunications company Verizon Communications. The park is fully let in two separate leases with an average length of 10 years. Reading is located some 60 km west of London and the business park is about a 25-minute drive to Heathrow Airport.
RREEF is one of the world's leading investment managers with some EUR 42 bn in assets under management worldwide.
